MP Richard Harris talks a lot about the federal budget, but he has been noticeably silent on its hidden tax increases on small business — so Liberal MPs are speaking up.
Small businesses and the people who work in them are the lifeblood of our communities — every year they create half of all new jobs in Canada and account for 40 per cent of our GDP. Their success is critical to getting local economies moving again.
Yet in the budget, the Conservatives are hitting small business owners with a tax increase that will cost them more than $2.3 billion over the next five years.
The government is once again choosing to hike taxes — not lower them.
This comes on top of another Conservative hike to payroll taxes — their third Employment Insurance premium increase so far — charges that are literally a tax on hiring more workers.
The budget also risks undermining rural entrepreneurs’ access to capital by raising taxes on credit unions, making it tougher for them to compete against the big banks.
All of these changes make it more expensive to own and run your own business.
As a former small business owner myself, I understand some of the challenges facing community shops, restaurants, cafes and other businesses.
That’s why Liberals want government to be a thoughtful advocate for small businesses — and not to hinder them by adding to their tax burden.
Joyce Murray, MP
Liberal Party of Canada Critic for Small Business